Turkish commerce delegation visited the U.S. to debate bilateral commerce relations, significantly world repercussions of Washington’s latest reciprocity-based commerce insurance policies, the Trade Ministry introduced in a written assertion on Monday.
The May 22 go to got here after Trade Minister Ömer Bolat’s on-line assembly in April with U.S. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Ambassador Jamieson Greer. It marked the third spherical of talks, the ministry mentioned.
Trump signed an government order in early April that imposed reciprocal tariffs on nations worldwide, stating that every one international locations can be topic to a minimal baseline tariff of 10%, with some, akin to Canada, Mexico, China and EU states, paying larger charges.
Türkiye can also be among the many international locations going through a ten% charge.
The delegation, headed by Turkish Deputy Trade Minister Mustafa Tuzcu, visited Washington, DC, to satisfy with U.S. Deputy Trade Representative Bryant Trick and different officers.
The ministry famous that the “meeting focused on the global repercussions of the recent reciprocity-based trade policies of the U.S. and the new policy steps that can be taken to advance bilateral trade in this period.”
During the go to, extra steps that may be taken to proceed the momentum achieved within the final decade in Türkiye-U.S. commerce relations, to realize the $100-billion bilateral commerce quantity goal, had been mentioned, the ministry additionally mentioned.
In the earlier Trump mandate, in 2019, President Recep Tayyip Erdoğan and Trump agreed to extend the bilateral commerce quantity to $100 billion. The commerce quantity between the 2 international locations was round $32 billion in 2024.
Both sides confirmed that there are mutual commerce and funding alternatives between Türkiye and the U.S. in nearly each sector, in addition to nice potential in areas akin to new applied sciences, innovation, manufacturing, AI and cybersecurity, the ministry additionally famous.
“In addition, the defense and energy sectors are other critical areas where cooperation is advancing rapidly,” it added.
“During the visit, where joint efforts were discussed to use the high cooperation potential effectively and efficiently and to be minimally affected by various new practices, it was emphasized that the balanced mutual increase and diversification of trade and the encouragement of investments are common priorities in the new period,” the assertion additional learn.
It additionally mentioned it could proceed contacts with the U.S., pledging to “keep taking the necessary steps to evaluate opportunities to improve the conditions for our companies to enter the U.S. market in many sectors.”
Source: www.dailysabah.com